You must be a Premium Subscriber to read this article.

Southern Air seeks bankruptcy protection

Manage Home Page

Monday, October 01, 2012

U.S. cargo airline Southern Air said Friday it has filed for protection under Chapter 11 of the federal bankruptcy laws, citing “economic challenges and extreme industry changes that have impacted the international freight market, including major cutbacks in spending by the U.S. Department of Defense.” It said it had reach a deal with its lenders to restructure its balance sheet and significantly reduce by more than two-thirds its approximately $285 million of legacy debt. &n...

You have requested access to content only available to Registered Users of American Shipper. You can become a registered user for FREE. You will not have access to premium content.

Your registration to American Shipper is FREE and will provide you access to much of the content on the American Shipper Web site. You will not have access to Premium Content.

SUBSCRIBE NOW
Access to premium content, original reporting, research, and feature stories require a paid subscription. Subscriptions to American Shipper costs $120 a year. Your subscription includes unlimited access to content on the American Shipper Website, early access to the digital edition of the monthly magazine, and the daily AS+ premium newsletter published each morning.